And I feel fine…
Here's a 2-month 30-minute perspective, based off the February bottom
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AGG, 30-min
With a lower low followed by a higher high, and trading just above 50% of wave AB, I'd rate this as neutral with a bullish bias
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SPX, 30-min
Loosely translated, we have both a Double Top/Bottom with price in the upper half of Wave AB, I'd rate this as neutral with a bullish bias
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W4500, 30-min
This is the only chart where I've pushed the ABC wave forward because of the higher high at B. With a higher high/low I'd rate this chart as bullish, if the low at A were to get breached, then I'd rate is as bearish. Notice trendline 5-6 has held for a second time (confirmation pending)
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Transports, 30-min
The ugliest chart, price retraced nearly all the gains from the Feb low, with a lower high/low, this chart looks bearish, but we've yet to breach the Feb low
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NASDAQ 100, 30-min
Same as the S&P 500, loosely translated, we have both a Double Top/Bottom with price in the upper half of Wave AB, I'd rate this as neutral with a bullish bias
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Some folks think the bear market is beginning, others think we'll get a dead cat bounce, I stand by my previous projection
3/17/2015 "I look at the charts, I look at the stats, I look at the charts and then I look at the stats some more. Optimistically speaking, it is my belief both seasonality and the charts are getting aligned and this gives us potential momentum for the S&P 500 to make a mid-April run for 2175-2225, that's a 4-6 percent move. Conversely, a close back below 2040 will make me re-evaluate the price action."
I've put my money where my mouth is, hopefully I won't have to replace it with my foot…Jason
Here's a 2-month 30-minute perspective, based off the February bottom
___
AGG, 30-min
With a lower low followed by a higher high, and trading just above 50% of wave AB, I'd rate this as neutral with a bullish bias
___
SPX, 30-min
Loosely translated, we have both a Double Top/Bottom with price in the upper half of Wave AB, I'd rate this as neutral with a bullish bias
___
W4500, 30-min
This is the only chart where I've pushed the ABC wave forward because of the higher high at B. With a higher high/low I'd rate this chart as bullish, if the low at A were to get breached, then I'd rate is as bearish. Notice trendline 5-6 has held for a second time (confirmation pending)
___
Transports, 30-min
The ugliest chart, price retraced nearly all the gains from the Feb low, with a lower high/low, this chart looks bearish, but we've yet to breach the Feb low
___
NASDAQ 100, 30-min
Same as the S&P 500, loosely translated, we have both a Double Top/Bottom with price in the upper half of Wave AB, I'd rate this as neutral with a bullish bias
___
Some folks think the bear market is beginning, others think we'll get a dead cat bounce, I stand by my previous projection
3/17/2015 "I look at the charts, I look at the stats, I look at the charts and then I look at the stats some more. Optimistically speaking, it is my belief both seasonality and the charts are getting aligned and this gives us potential momentum for the S&P 500 to make a mid-April run for 2175-2225, that's a 4-6 percent move. Conversely, a close back below 2040 will make me re-evaluate the price action."
I've put my money where my mouth is, hopefully I won't have to replace it with my foot…Jason
